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Harris to acquire Encoda Systems

Harris has signed an agreement to acquire Encoda Systems, a software and service solutions supplier.

Harris will purchase Encoda Systems for approximately $340 million in cash, subject to post-closing adjustments, customary closing conditions, and regulatory approvals. The transaction is expected to close in early November, and the acquisition is expected to be immediately accretive to Harris earnings in fiscal year 2005 at approximately $0.12 per diluted share.

Encoda's end-to-end workflow solutions include traffic and billing and program-scheduling systems. Their automation and media asset management solutions complement Harris' existing automation business.

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